Consumer confidence held steady in Germany going into November.
The latest survey by the GfK market research group showed consumer morale in Europe’s growth engine remained at its highest level in two and a half years supported by strong employment data.
At the same time French consumer confidence rose to an eight-month high this month according to France’s national statistics office INSEE.
“In Germany you have consumption which has held up well over the past few months, supported by the strong jobs market,” said Natixis economist Sylvain Broyer.
“In France we are seeing a slight uptick based on the fact that expectations of further deterioration in the job market are beginning to subside,” he added.
German consumer morale remains buoyant